NGX gains N1.67trn as All-Share Index rises 1.76% in weekly trading

By Seun Ibiyemi

The Nigerian Exchange (NGX) closed the week on a positive note as the All-Share Index (ASI) and market capitalisation appreciated by 1.76 per cent to settle at 152,057.38 points and N96.937 trillion respectively.

The performance represents an improvement over the previous week’s close of 149,433.26 points and N95.264 trillion market capitalisation, resulting in a gain of N1.673 trillion for investors during the week under review.

Most sectoral indices ended the week higher, with the exception of the NGX AFR Bank Value Index and the NGX Oil and Gas Index, which declined by 1.38 per cent and 0.17 per cent respectively.

Trading activity declined week-on-week as investors traded a total of 4.373 billion shares valued at N97.783 billion in 110,736 deals, compared with 6.617 billion shares worth N113.224 billion exchanged in 109,590 deals in the previous week.

The Financial Services Industry dominated trading, accounting for 2.252 billion shares valued at N47.204 billion traded in 44,808 deals. 

This represented 51.49 per cent of total equity turnover volume and 48.27 per cent of total value. 

The ICT industry followed with 1.118 billion shares worth N13.148 billion in 10,413 deals, while the Oil and Gas industry ranked third with 233.891 million shares valued at N4.726 billion in 7,515 deals.

Trading in the top three equities—E-Tranzact International Plc, Access Holdings Plc and FCMB Group Plc—accounted for 1.921 billion shares worth N22.218 billion in 9,558 deals, contributing 43.93 per cent of total equity turnover volume and 22.72 per cent of total value.

Market breadth was mixed during the week as 49 equities appreciated in price, compared with 55 in the previous week.

Meanwhile, 41 equities depreciated, up from 29, while 57 equities remained unchanged, down from 63 recorded in the preceding week.

Morison Industries, Mecure Industries, Japaul Gold, Sovereign Trust Insurance and PZ Cussons Nigeria emerged as the top gainers, appreciating by N1.15, N8.15, 56 kobo, 50 kobo and N6.55 respectively. 

On the losers’ chart were Eterna, UACN, E-Tranzact International, Transcorp Hotel and Chellaram Plc, which declined by N5.30, N13.80, N1.40, N17.20 and N1.45 respectively.

Meanwhile, the NGX announced the listing of an additional 140,100,000 units of Chapel Hill Denham Management Ltd.’s Nigerian Infrastructure Debt Fund at N109.50 per unit under its N200 billion issuance programme. 

The listing, which took place on Wednesday, December 10, increased the total outstanding units of the fund on the NGX from 1,056,257,953 to 1,196,357,953 units of N100 each.